Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED SEM OPERATIONS (Tables)

v3.23.2
DISCONTINUED SEM OPERATIONS (Tables)
 6 Months Ended
Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]  
SCHEDULE OF DISCONTINUED OPERATIONS

The following table presents the assets and liabilities associated with the discontinued operations of SEM:

 

    June 30,     December 31,  
    2023     2022  
    (unaudited)        
ASSETS                
Property and equipment, net   $ 54,200       217,200  
Total Assets held for sale   $ 54,200     $ 217,200  
                 
LIABILITIES                
Accounts payable   $ 27,600       40,900  
Accrued liabilities     10,000       10,000  
Current portion of long-term debt     21,100       25,400  
Total current liabilities     58,700       76,300  
                 
Long-term debt     -       9,200  
Total liabilities held for sale   $ 58,700     $ 85,500  

 

 

Major classes of line items constituting pretax income on discontinued operations:

 

    2023     2022  
    For the Six Months ended  
    June 30,  
    2023     2022  
             
Product revenue   $ -     $ 120,400  
                 
Product costs     -       (130,500 )
General and administrative expenses     (14,300 )     (25,800 )
Salaries and related expenses     -       (17,200 )
Other income (expense)     174,600       (2,200 )
Total income (expense)     160,300       (175,700 )
                 
Operating income (loss)     160,300       (55,300 )
Income tax benefit     -       -  
                 
Total income (loss) from discontinued operations   $ 160,300     $ (55,300 )